3542 N La Palma Rd, Casa Grande, AZ 85194
3 beds · 2 baths · 1,520 sqft
Welcome to your private country retreat on a sprawling 1.26-acre lot, offering the perfect balance of modern comfort and outdoor living with no HOA restrictions. This exceptional property is designed for horse enthusiasts, featuring two spacious horse stalls, a tack room, an arena with sand footing, and convenient turnouts, providing everything you need for your horses to thrive. The expansive 1,500+ sq ft workshop, built in 2017, includes a 9-ft roll-up door, built-in lighting, and an electrical panel, ideal for projects or hobbies. Additionally, RV hookups offer extra convenience. Energy efficiency is key, with OWNED solar panels, a newer roof, newer A/C, and newer windows throughout the home, ensuring reduced energy bills. The updated 3-bedroom, 2-bathroom home boasts sleek new flooring, a modern kitchen, and spacious living areas, perfect for both everyday living and entertaining. You'll also enjoy stunning panoramic views and the privacy that this property offers, all while being conveniently located close to schools, shopping, and other amenities. This unique property provides the ideal space for raising horses, pursuing hobbies, or simply enjoying the serenity of country living. Don't miss out on this opportunity to own a home that has it all!
Source: ARMLS #6840897
Source: ARMLS #6840897
To qualify, you must meet the current FHA or VA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 580, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50%. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
FHA (Federal Housing Administration) loans
FHA loans require the buyer to assume the mortgage as a primary residence. When you apply for the loan, you must attest that the home will be your primary residence for 12 months to be approved for an FHA assumption. Most lenders will ask that you move in within 60 days.
VA (Veteran's Affairs) loans
You don't have to be a veteran to assume a VA loan. However, not all veterans are willing to let a non veteran assume their mortgage. Roam confirms the seller's willingness prior to you making an offer.
Investors
You may be able to assume a VA mortgage as an investor without it being your primary residence.
What is Roam?
Roam is your trusted partner for affordable home ownership. We help manage the assumption process from start to finish, enabling homebuyers to easily purchase their next home with a low-interest rate mortgage attached.
What is an assumable mortgage?
An assumable mortgage is a type of home loan that allows a homebuyer to take over the existing mortgage terms from the seller, with no cost to the seller. Many government-backed loans, such as FHA and VA loans, are eligible for assumption, and millions of these mortgages are available.
Why is an assumable mortgage valuable?
When interest rates on mortgages are high, assuming a mortgage with a rate as low as 2% allows buyers to save up to thousands monthly compared to buying a home with a traditional mortgage at today’s average rates of 7%. A low-rate assumable mortgage could be the key to finding your dream home at an affordable price.
How can you find assumable mortgage listings?
Roam has compiled available listings with low-rate assumable mortgages for you to browse. To get started, enter the city, state, zip code, or school district you’re interested in purchasing in. Utilize the search filters to narrow down your search. Click “Save search” to save your search preferences and activate listing notifications—we’ll email you as soon as new listings match your criteria.
Once you’ve found your dream home and ready to make an offer, schedule a call with a Roam Advisor directly from the listing. Your Roam Advisor will guide you through each step of the process, while also working directly with your agent, the servicer, and the seller to ensure you close on time.
How do I qualify for an assumable mortgage?
To qualify, you must meet the current FHA, VA, or USDA loan requirements depending on the type of loan you are assuming. This typically means a minimum credit score of 620, although most lenders prefer 620-640. Your debt-to-income ratio should be under the 50% max under FHA guidelines. Additional information such as employment history, explanations of income for each applicant, and asset verification for a down payment may be needed to process the loan.
Roam is committed to and abides by the Fair Housing Act of Equal Opportunity Act.